Sharewatch: Daily Mail Rises Despite Archant Acquisition

The Daily Mail group was seen in focus last week after a failed attempt to purchase the Independent’s London newspapers. Archant swooped in to acquire the titles just hours after the Daily Mail received the go ahead for a deal. The stock rose 3.33% week on week to 627.75p.

Meanwhile, investors considered reports that Terry Smith, chief executive of stockbroker Collins Stewart, is putting together a cash bid for the Telegraph titles that would value the business at around £500 million.

Broader market sentiment was mixed as gains made early in the week were undone by widespread profit taking. The market is seen opening stronger today following the capture of Saddam Hussein.

The closing prices of media company shares on Friday were: